ILC: Business operational changes

ILC: Business operational changes

International Labor and Services JSC (HNX: ILC) explained the decrease in operating result in Quarter III/2011 as follows:

1. Loss of net profit from operating activities of the Company was caused by following reasons:

- Operating revenue in Quarter III/2011 increased by 39.32 % but cost of goods sold increased by 44.88 % year on year. Reason for increase in cost of goods sold is inflation which makes price of input materials increase especially price of fuel

- Due to increase in bank interest, Vietnamese currency lost in price compared to USD. Therefore, financial expenses in Quarter III/2011 decreased twice year on year

2. Reason for decrease of other profit in Quarter III is that the Company sold Inlaco Glory with a loss of VND25,530,443,784.

HNX